Lanzarote Property Hot Spots

British consumers are refusing to surrender their Spanish holidays. As recent research from national airport authority AENA reveals that tourist visits to Lanzarote from the UK are on the up – despite the current credit crunch, weakening pound and falling consumer confidence. Providing happy reading for owners of holiday property in Lanzarote.

Lanzarote is the most easterly of the Canary Islands and has long been a favourite with overseas investors. As the island enjoys a year round clement climate, with temperatures that rarely fall below 20C. Creating a 12 month rental calendar for the owners of apartments and holiday villas in Lanzarote.

Whilst the current economic situation is having a downward impact upon the price of property for sale in Lanzarote in Lanzarote – the islands tourist industry, which accounts for approximately 90% of GDP remains buoyant. With British tourist numbers up 7.9% in August, and overall foreign tourism up by nearly 4% for the year to date.

So where are the best locations on the island to search for property? And how much does it cost to get a foot on the property ladder in Lanzarote?

Puerto del Carmen

Puerto del Carmen is the place where tourism first took off on Lanzarote. This fishing village formerly known as La Tiñosa became the focal point for package tourism on the island during the 1970´s and is still the most popular resort on Lanzarote today.

Local island authorities also have big plans for the further development of the resort. With a scheme afoot to pedestrianise the main 6km long beachfront strip and a new golf course opening just outside Puerto del Carmen at the end of the year. Add in reliable year round rental demand and property in Puerto del Carmen remains a solid and attractively priced investment.

The resort has apartment complexes at the core of its blueprint. And many of these have recently undergone redevelopment too. One such example is the Bitacora, which is located in the heart of Puerto del Carmen just five minutes walk from the main beach.

Here, 72 units have been fully renovated – offering good quality fittings and furnishings along with additional extras such as high speed internet connection and satellite TV. One bedroom units are priced at €99,000 – and investors could expect a return of around £250 per week on the holiday rentals market.

Playa Blanca

A little higher up the price ladder lie holiday villas. And Playa Blanca – Lanzarote´s southern most resort – is the optimum spot on the island for this type of investment. As hundreds of good quality villas have been built in and around the resort over the last few years – creating decent price competition amongst developers and local estate agents.

As a result, overseas investors can still find two or three bed villas – with private pools – in good locations for as little as €250,000. Demand for rental villas in the resort is also high – especially amongst British and Irish holiday makers. And villa owners here can expect a return of around €500 plus per week – depending on the size and quality of their property.

Playa Blanca also enjoys the best micro-climate on the island. A vital factor for anyone planning to invest in property on the Island of Fire.

Author: www.lanzaroteguidebook.com